Skip to content
Subscriber Only

Renesas Rises After Report Apple May Buy Design Unit Stake

Renesas Electronics Corp. gained in Tokyo after a report Apple Inc. is seeking to buy a stake in a unit that designs chips for liquid-crystal displays used in smartphones.

The shares rose 6 percent to 831 yen, the highest close since March 2011. Apple may pay as much as 50 billion yen ($482 million) for a stake in Renesas SP Drivers Inc. the Nikkei newspaper reported today.